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Spero Co produced a draft statement of financial position at the year end which showed the owner's equity as 450,000. It was later discovered, however,

Spero Co

produced a draft statement of financial position at the year end which showed the owner's equity as 450,000. It was later discovered, however, that the following transactions, which all occurred on the last day of the financial year, had not been taken into account:

1.

Property, which cost

333,000,

had been revalued to

385,000.

2.

Inventories, which cost

23,000,

had been sold on credit for

28,000.

3.

The owner withdrew

30,000

in cash.

4.

A trade receivable paid the amount owing of

38,000

in full.

What will be the revised figure for owner's equity after the above transactions are taken into account?

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